Illinois HB4680 amends the Illinois Income Tax Act to set the earned income tax credit at 30% of the federal earned income tax credit for taxable.
Illinois HB4680 amends the Illinois Income Tax Act to adjust the earned income tax credit. For taxable years beginning on or after January 1, 2026, the credit will be set at 30% of the federal earned income tax credit. The bill also includes provisions for taxpayers using an individual taxpayer identification number and those who have attained the age of 18 but have not yet attained the age of 25. The credit is exempt from certain provisions and is effective immediately upon becoming law.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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